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Local Businesses' Investment Flows to Hotspot

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Local Businesses' Investment Flows to Hotspot CHINA DAILY Monday, May 15, 2017 Shandong supplement 27 Local businesses’ investment fl ows to hotspot destinations Province steps up to lead intl partnerships, Tractors produced by Shandong’s farming machine maker China’s ‘going Lovol are favored by users in Africa. global’ strategy By ZHAO SHIJUN Industrial might of [email protected] At the crossroads of the Silk Shandong province Road Economic Belt and the 21st Century Maritime Silk Road, East China’s Shandong moves westward province has been an active player in the Belt and Road Initiative. By ZHUAN TI Since the initiative was [email protected] launched in 2013, the prov- ince has taken measures to More enterprises in Shan- 29.4 enhance economic and cultur- dong province are seeking billion yuan al exchanges with countries the huge market potential and regions along the routes, brought by the Belt and Road Shandong’s investment according to local o cials. Initiative, said local o cials in Belt and Road regions She Chunming, chief of the and businesspeople. Shandong Bureau of Com- Countries along the route merce, said: “In recent years, have become the favorite Shandong has implemented a destination for Shandong to ‘going global’ strategy, actively transfer its industrial capac- pany, signed a deal for an taking part in construction in ity to thanks to their lower Uzbek project last May. The Belt and Road countries and costs and abundant resourc- company and its Uzbek part- strengthening international es, according to Zhang ners will cooperate to build investment, trade and indus- A representative of the Saudi Arabia branch of Shandong-based IT giant Inspur introduces the company’s products to Saudi Arabian Xingcheng, deputy chief of 46 gas stations, with total trial capacity cooperation.” customers during the Inspur Customer Day in February 2016. photos provided to china Daily Shandong Bureau of Com- investment of $100 million. “The Belt and Road regions merce. Because of rich oil and have become hot investment “Shandong’s international gas resources in Uzbekistan, destinations for Shandong’s and Road Initiative in 2016” cooperation mainly focuses Kerui opened an o ce there businesses,” She said. during a forum held in Beijing on rubber tires, textiles and in 2008, selling equipment The bureau’s statistics show in January. garments, machinery and for oil and gas exploitation that the province’s trade with “Yantai highlights busi- electronic products. Some and oB ering other services. Belt and Road countries and ness links with Belt and Road key cooperative projects Wu said that the proj- regions amounted to 413 bil- regions,” said Yu Dong, chief have made positive progress,” ect will provide more than lion yuan ($60 billion) in 2016, of the city’s commerce bureau. Zhang said. 1,000 jobs for locals and help growing 8.4 percent from the He said Yantai has trade The government encour- Uzbekistan to upgrade its previous year and accounting and investment ties with 64 ages enterprises to take nec- energy industry. for 26.7 percent of the prov- countries and regions along essary measures to grasp A coal-fired power plant ince’s total foreign trade. the route. opportunities to go global. in Pakistan’s Punjab prov- The Association of South- The bureau’s statistics show Construction enterprises in ince, built by the Shandong east Asian Nations mem- that Yantai’s trade with such Shandong have cooperated branch of Huaneng Corp and bers, Russia and India are countries totaled 52.64 billion with such State-owned enter- Shandong Ruyi Technology, is Shandong’s top three trade yuan, accounting for 18.1 per- prises as China State Con- scheduled to become opera- partners, with major exports cent of the city’s total foreign struction Corp, China Met- tional in June. Total invest- from the province including trade volume. allurgical Group and China ment in the project is $1.8 machinery, electronics, veg- Yantai’s businesses have Civil Engineering Construc- billion. etables and metals. partnered with local compa- tion Corp, using their funds, As a priority project in pro- In the first quarter of this nies to build two industrial technologies and channels motion of the Sino-Pakistani year, Shandong’s trade with parks in Russia and Hungary, to expand overseas business. Economic Corridor, it will countries and regions along half of the overseas parks sup- To help local enterprises help to resolve local power the routes reached 116.4 billion ported by Shandong. to solve fi nancing problems, shortages. yuan, up 35.3 percent from the Qingdao is another pivotal the Shandong Department Shandong enterprises are same period of last year. The Silk Road High-Tech Park Alliance is established in Yantai in July 2016, with members from city in the initiative. of Commerce has cooperated also expanding in Africa. According to She, Shandong China, Russia, Belarus, Ukraine, Georgia, Armenia, Kazakhstan and Lithuania. Based on its advantageous with China’s major banks and Shandong’s farming machine has carried out a number of industrial strength, the city fi nancial institutions, asking and truck maker Lovol won measures to promote coop- cies to facilitate such interna- According to Liang Wenyue, of Finance, four are backed by has launched 102 projects in them to fi nance Shandong’s an order to deliver 500 trac- eration with these countries tional cooperation. deputy chief of the Shandong Shandong’s businesses, includ- Belt and Road countries and major projects relating to the tors to Mali in March, as part and regions. It has made con- The province encourages O ce for Promoting Regional ing one in Pakistan, one in Rus- regions, with combined invest- Belt and Road Initiative. of the Malian government’s crete progress in such fi elds as local construction compa- Development Initiatives, the sia and two in Hungary. ment of $60 billion. According to the bureau, procurement package. interconnectivity, international nies to work with large State- average investment of the 190 “These industrial parks will Although an inland city, Shandong’s investment in When Lovol exported its industrial capacity, trade and owned enterprises, using their overseas projects is 2.3 billion become important platforms Linyi has played an important the Belt and Road regions fi rst tractor to Mali in 2010, investment, energy, finance resources in funds, technolo- yuan. These include 18 large for Shandong’s cooperation part in the initiative. has reached 29.4 billion its high-quality and consid- and cultural exchanges. gies and channels to develop projects, each with investment with Belt and Road regions,” Businesses from the city yuan ($4.3 billion) to date, erate services impressed Shandong Bureau of Com- overseas markets. of more than 5 billion yuan, Liang said. launched a regional wholesale accounting for 16.7 percent of the locals, resulting in more merce has arranged a series In April 2016, the province mostly in the fields of infra- and logistics center in Pakistan the province’s total outbound orders to follow, according of trade fairs and exhibitions established a database for 210 structure and industrial capac- Outstanding cities in May 2016. investment. The turnover of to Chang Jiamao, deputy in Southeast Asia, South Asia, major projects relating to the ity. There are several cities The center will become a such projects has reached general manager of Lovol. Russia, Mongolia, West Asia, Belt and Road Initiative. These Liang said these overseas standing out in Shandong’s distribution hub for products 42.3 billion yuan. The company has sold a total North Africa and Central and include 190 overseas projects, projects are mostly in South- coordination with the Belt and from Linyi and other parts of “The Belt and Road Ini- of 7,000 tractors and other Eastern Europe in recent years. involving total investment of east Asia, Russia and India. Road regions. China to regions including tiative has offered more machines to Mali. A number of agreements have 450 billion yuan and covering Shandong is also work- Yantai on Shandong’s east- South Asia, Central Asia, the opportunities for enterprises Lovol products have been been signed during these such sectors as infrastructure, ing with overseas partners ern coast was one of the fi rst 14 Middle East and North Africa. to expand overseas,” said sold to more than 120 coun- events for trade and invest- industrial capacity coopera- to build industrial parks in Chinese cities to open up to the Similar facilities are planned Wu Yuefei, an executive at tries and regions in the ment cooperation. tion, energy and resources, their countries. Among the 20 world. It is a pivotal city in the in countries and regions like Kerui Petroleum’s branch in world. Its exports to Belt and The bureau has also collabo- culture, education and fi nance, Sino-foreign cooperative parks Belt and Road Initiative. Qatar, the United Arab Emir- Uzbekistan. Road regions make up more rated with overseas trade and as well as ecological and envi- recognized by the Ministry of It was elected as one of the ates, Kazakhstan, Guinea, Kerui, a Shandong-based than 50 percent of its total investment promotional agen- ronmental protection. Commerce and the Ministry “most vigorous cities in the Belt Uganda and Nigeria. petroleum equipment com- exports. Cultural exchange e orts intensify amid Belt and Road outreach By ZHAO SHIJUN related activities will be regu- sia, Poland, Australia, Thailand larly staged throughout the and the United States to pro- The home of Confucius and year, including exhibitions of mote Shandong’s culture. Mencius, Shandong province Confucian culture, lectures on Wen said Shandong will expects to use the Belt and Confucian thoughts and rituals cooperate with the Chinese Road Initiative as a platform The Belt and Road to worship the ancient sage.
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